Since many years, I enjoy working in the Financial Industry and future trends such as FinTech seemed obvious, until recently reflecting on possible trends for 2017. In my humble opinion FinTech is addressing a customer experience driven demand strongly supported by technical evolution such as mobile, cloud, big data, etc… Has the disintermediation of banks started?
FINNOSUMMIT is gearing up for its upcoming event, which will return to Bogota next March 14th in the events center Hall 74 .
In the fourth episode of our series on financial technology, we sat down with Anju Patwardhan, a Fulbright Fellow researching fintech at Stanford University who previously served as the Chief Innovation Officer for Standard Chartered Bank, one of the world’s largest and most international banks. Anju is currently researching the potential for financial technology to increase financial inclusion, particularly for small businesses, at Stanford University. She also serves as a Venture Partner for the Fintech Investment Fund of Creditease, one of China’s largest fintech firms.
Perhaps no sector has more to gain from innovations in financial technology than small- and medium-sized enterprise (SME) finance, especially in Asia. SMEs accounted for 42 percent of Asia’s GDP in 2014 yet received only 18.7 percent of bank lending according to the Asian Development Bank.
Download the report and discover:
Traditional banking-sector participants are witnessing an emergence of marketplace lenders (MPLs) that is profoundly changing the way individuals and businesses within the financial community interact. An estimated $4.7 trillion in financial services revenue is at risk of being displaced by FinTech. This has made regulators increasingly aware that appropriate reform is needed, given MPLs’ positioning in the financial services market, as well as their evolving business models and increasing institutional support.
“Fintech” – an intersection of financial services and technology – is taking the traditional financial world by storm. Indonesia is no exception, with a fast-evolving ecosystem that includes a host of financial services offered by new generation fintechs. Indonesia is the fourth largest mobile market in the world with 339.9 million connections – a SIM penetration of 131%!
Banks, if they are astute, should be reflecting carefully about what has happened to daily newspapers in recent years. They survived the arrival of 24-hour cable news, but the rise of the internet has coincided with a slide in newspaper readership numbers. Newspapers are general interest publications, covering news, sport, culture, and much more. So, apart from the newspaper’s main focus – news – readers can now go to specialised websites for the same information.
The Fintech 100 report gives an in-depth look into those global companies that are taking advantage of technology and driving disruption within the financial services industry. The report is a collaborative effort between H2 Ventures and KPMG.
You’ve probably heard of fintech by now. Maybe your company has adopted some fintech services or maybe you use a fintech company for personal use.
Or, if you’re like most – although more tech-savvy companies are adopting fintech services every day – you’ve read or heard about it somewhere but you’re not quite sure how fintech works, what it is, or if it deserves your attention.
